Enviva Partners (NYSE:EVA) Cut to "Hold" at Zacks Investment Research

Thursday, June 10, 2021 | MarketBeat

Enviva Partners (NYSE:EVA) was downgraded by Zacks Investment Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, "Enviva Partners, LP is a master limited partnership which owns and operates wood pellet production plants. It serves primarily in the United States and Europe. Enviva Partners, LP is based in Bethesa, United States. "

Several other research firms have also recently commented on EVA. Citigroup lifted their target price on shares of Enviva Partners from $43.00 to $52.00 in a research note on Tuesday, March 2nd. Barclays lifted their target price on shares of Enviva Partners from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday. Royal Bank of Canada lifted their target price on shares of Enviva Partners from $51.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, February 26th. Finally, Raymond James lifted their target price on shares of Enviva Partners from $52.00 to $57.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 25th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Enviva Partners presently has an average rating of "Buy" and a consensus target price of $58.20.

NYSE:EVA traded up $0.01 during mid-day trading on Thursday, reaching $48.60. The stock had a trading volume of 58,065 shares, compared to its average volume of 98,194. The company has a quick ratio of 0.71, a current ratio of 1.13 and a debt-to-equity ratio of 4.02. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -70.43 and a beta of 1.00. Enviva Partners has a twelve month low of $33.14 and a twelve month high of $53.96. The firm's 50 day moving average price is $48.92.

Enviva Partners (NYSE:EVA) last announced its quarterly earnings data on Wednesday, April 28th. The energy company reported ($0.05) EPS for the quarter, beating the Zacks' consensus estimate of ($0.08) by $0.03. Enviva Partners had a net margin of 0.78% and a return on equity of 12.71%. On average, equities research analysts forecast that Enviva Partners will post 1.15 earnings per share for the current year.

In related news, Director John C. Bumgarner, Jr. purchased 32,967 shares of the firm's stock in a transaction on Tuesday, June 8th. The shares were bought at an average price of $45.50 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now directly owns 56,897 shares in the company, valued at $2,588,813.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Several large investors have recently bought and sold shares of EVA. Grandview Asset Management LLC acquired a new position in shares of Enviva Partners during the 1st quarter valued at $30,000. Credit Suisse AG acquired a new position in shares of Enviva Partners during the 1st quarter valued at $203,000. Barclays PLC acquired a new position in shares of Enviva Partners during the 4th quarter valued at $216,000. Marathon Capital Management purchased a new stake in Enviva Partners during the 4th quarter worth $227,000. Finally, D.A. Davidson & CO. purchased a new stake in Enviva Partners during the 1st quarter worth $228,000. Institutional investors and hedge funds own 67.19% of the company's stock.

Enviva Partners Company Profile

Enviva Partners, LP produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, Europe, and Japan. Enviva Partners GP, LLC operates as the general partner of the company.

Read More: Stock Market - What is a circuit breaker?

Get a free copy of the Zacks research report on Enviva Partners (EVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is the price-to-earnings growth (PEG) ratio?

7 Stocks to Support Your New Year’s Resolutions

After a year like 2020, many Americans figure that just getting to 2021 was enough. But for many people, the start of a new year still means making resolutions. And while many Americans are still waking up to Groundhog’s Day, there is hope that things will look dramatically different in September than they do right now.

Some of the most popular resolutions include losing weight, exercising more, or taking steps to get our life and/or business more organized. And many pure-play companies lean into these trends and are doing well.

As an alternative to this, you can also invest in companies that are not pure plays but can still benefit from consumers looking to start fresh. Owning these stocks helps you manage your risk. If the trend holds, you can ride the wave. On the other hand, if the wave turns into a ripple, the stocks have other catalysts to get them through.

In this special presentation, we’ll take a look at both of these categories. We’ve got several pure-play companies that let investors buy stocks in companies benefiting from these trends. We’ll also give you a few stocks that fall in the latter category.

These are stocks that you might buy at any time and for many reasons. However, they present excellent buys as the new year begins.

View the "7 Stocks to Support Your New Year’s Resolutions".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.